Carlyle Group Fully Exits PNB Housing Finance with ₹2,712 Crore Stake Sale

New Delhi: Global investment firm Carlyle Group has fully exited its investment in PNB Housing Finance by selling its entire 10.44% stake for ₹2,712 crore through open market transactions on Friday.

The US-based investment firm sold the stake through its affiliate, Quality Investment Holdings PCC. The transaction involved the sale of over 2.71 crore shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). According to data from the exchanges, more than 1.73 crore shares were sold on the NSE, while 98.07 lakh shares were offloaded on the BSE in eight tranches.

The shares were sold at an average price of ₹1,000.20 each, bringing the total deal value to ₹2,712.97 crore.

Several major institutional investors were the buyers in this transaction. On the BSE, Nippon India Mutual Fund, Kotak Mahindra Mutual Fund, Nomura Funds Ireland, and Osaka-based Daiwa House Industry purchased shares of PNB Housing Finance.

On the NSE, buyers included Societe Generale, Goldman Sachs, Morgan Stanley, Canara Robeco Mutual Fund, HDFC Bank, Citigroup Global Markets Mauritius, Kotak Mahindra Life Insurance, SBI Life Insurance, and Premji Invest, the investment arm of billionaire Azim Premji. Additionally, Singapore-based Aurigin Capital, Cohesion Investments, Madhusudan Kela’s Cohesion MK Best Ideas Sub-Trust, Norway’s Government Pension Fund Global, and the Public Investment Fund (PIF) of Saudi Arabia also picked up shares of the company.

Following the transaction, the stock price of PNB Housing Finance saw a sharp rise. On the NSE, the stock closed at ₹1,053.50, up 4.29%. On the BSE, it settled at ₹1,050.85, marking a 4.02% increase.

This is not Carlyle’s first divestment in PNB Housing Finance. In November 2024, the Carlyle Group sold a 9.43% stake (2.45 crore shares) in the company for ₹2,301.58 crore. Before that, in July 2023, it offloaded a 12.8% stake for ₹2,578 crore.

Earlier in March 2022, the board of PNB Housing Finance approved a rights issue worth ₹2,500 crore after the company decided to drop a ₹4,000 crore share sale deal to Carlyle and other investors. That deal was initially announced in May 2021 but was terminated in October 2021 due to delays caused by ongoing legal proceedings.

With the latest transaction, Carlyle has now fully exited its investment in PNB Housing Finance, marking the end of its involvement with the company.